Understanding Balwin Developments - Your Questions About Sectional Title Ownership Answered
Written by: Josh Maraney Save to Instapaper
Balwin Properties is renowned for their sustainable, quality developments. If you’re considering buying a property in one of Balwin’s developments, here are some frequently asked questions that will provide you with a better understanding of their property offerings:
Green Living with Balwin
Q: Are Balwin Green Bonds only available for certain developments?
A: Balwin Green Bonds are on all our developments with EDGE certified apartments. Contact sales executive to find out more.
Pet-Friendly Spaces
Q: Are the developments pet friendly?
A: Yes, small pets are allowed in Balwin developments. For specific size limits, refer to development executives.
Sectional Title Ownership
Q: What is sectional title ownership?
A: Sectional title is a form of ownership whereby the owner holds title to a section of a building that has been divided into two or more sections.
Q: Is this type of home ownership legal?
A: Yes, it is governed by the Sectional Title Act No. 95. Full copies of this Act are available if required – just ask your agent.
Q: What does the owner own in a scheme?
A: The section or sections he or she has purchased as well as an undivided share in the portion of the property known as the common property.
Q: Who owns the common property?
A: The common property is owned by the body corporate.
Understanding the Body Corporate
Q: How does the Body Corporate function?
A: A Body Corporate is managed by trustees who are elected by the owners at an annual general meeting (AGM). The Body Corporate may employ people to work for them, e.g. gardeners, cleaners, etc. In such cases, the Body Corporate is responsible for the payment of salaries, funded by the levies that owners pay.
Common Terms
Q: What are exclusive areas?
A: These are areas that have been allocated exclusively to a specific section and which then befall the owner of that section, e.g. an enclosed yard.
Q: What is the Participation Quota (PQ)?
A: It is the size of the section you own in relation to all the sections combined.
Q: If you have access to one Balwin property do you automatically have access to another development in South Africa?
A: Unfortunately not, you’ll only have access to that specific development.
Visiting Balwin Developments
Q: When are showdays at Balwin developments?
A: Show days are on Wednesdays, Saturdays, Sundays, and Public Holidays from 2pm – 6pm during summertime and 2pm – 5pm during wintertime.
Additional Information
Q: What is a Sectional Title Development Scheme?
A: It is a building that has been divided into a number of sections to be sold under Sectional Title in accordance with the Sectional Title Act No.95. It is often simply referred to as the scheme.
Q: How many sections are allowed per scheme?
A: There is no limit to the number of sections in a scheme.
Q: What is common property?
A: Common property is the land included in the scheme along with all the part/s of the building/s that are not included and described in the various sections.
Q: What is a Body Corporate?
A: A Body Corporate is the legal term for the combined registered owners of all sections in a sectional title scheme.
Q: What are trustees?
A: A Board of Trustees is a management committee elected out of body corporate members or their appointed representatives, who manage the daily and financial affairs of the body corporate.
Q: Why is there a Participation Quota?
A: A Participation Quota is used to calculate the financial portion of each owner towards levies, special levies, legal obligations, votes at general meetings, and the undivided share in the common property of each owner.
Q: From when and to whom are rates payable?
A: Rates are paid separately by each owner from the date of Registration to the local authority.
In essence, Balwin’s sectional title developments are more than just a place to live; they’re a comprehensive and sustainable lifestyle. For more information on purchasing a property in a Balwin development, reach out to their sales executive today.
Check Their Developments Below:
Johannesburg North apartments for sale
Apartments for sale in Ballito
Johannesburg East apartments for sale
Western Cape apartments for sales
Pretoria East apartments for sale
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